Invesco Solar ETF (NYSEARCA:TAN) Sets New 1-Year Low – What’s Next?

Invesco Solar ETF (NYSEARCA:TAN – Get Free Report) hit a new 52-week low during mid-day trading on Monday. The company traded as low as $43.00 and last traded at $43.00, with a volume of 298487 shares traded. The stock had previously closed at $44.06.

Invesco Solar ETF Trading Down 2.4%

The company has a market cap of $881.07 million, a PE ratio of 18.04 and a beta of 1.39. The business’s 50 day moving average is $49.16 and its two-hundred day moving average is $55.60.

Hedge Funds Weigh In On Invesco Solar ETF

A number of hedge funds have recently made changes to their positions in TAN. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Invesco Solar ETF in the first quarter worth about $99,186,000. BW Gestao de Investimentos Ltda. bought a new position in Invesco Solar ETF during the fourth quarter valued at approximately $11,486,000. Decker Retirement Planning Inc. bought a new position in Invesco Solar ETF during the first quarter valued at approximately $9,745,000. Meitav Investment House Ltd. purchased a new position in Invesco Solar ETF during the 1st quarter valued at approximately $3,888,000. Finally, Hilltop Holdings Inc. purchased a new position in Invesco Solar ETF during the 1st quarter valued at approximately $2,558,000.

About Invesco Solar ETF

(Get Free Report)

Guggenheim Solar ETF, formerly Claymore/MAC Global Solar Energy Index ETF, seeks investment results that correspond generally to the performance of an equity index called the MAC Global Solar Energy Index (the Index). The Index consists of approximately 25 stocks selected based on the relative importance of solar power within the Company’s business model, as determined by MAC Indexing LLC (the Index Provider). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.

Further Reading

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